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Arturiano [62]
3 years ago
10

The book balance in the checking account of Kyri Enterprises as of November 30 is $2,964. The bank statement shows an ending bal

ance of $2,525. The following information is discovered by (1) comparing last month’s deposits in transit and outstanding checks with this month’s bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement.
Deposits in transit: 11/29 $125
11/30 200
Outstanding checks: No. 322 17
No. 324 105
No. 327 54
Unrecorded ATM withdrawal:* 100
Bank service charge: 25
NSF check: 185
Error on Check No. 321 Checkbook shows it was for $64, but it was actually written for $44. Accounts Payable was debited.
Funds were withdrawn by Susan Kyri for personal use.
Required:
1. Prepare a bank reconciliation as of November 30, 20--.
2. Prepare the required journal entries.
Business
1 answer:
lianna [129]3 years ago
4 0

Answer:

1)

reconciliation of bank balance:

bank balance $2,525

+ deposits in transit 11/29 $125

+ deposits in transit 11/30 $200

- outstanding check N. 322 $17

- outstanding check N. 324 $105

- outstanding check N. 327 $54

adjusted bank balance $2,674

reconciliation of checking account:

checking account balance $2,964

+ error on Check N. 321 $20

- NSF check $185

- unrecorded ATM withdrawal $100

- bank fees $25

adjusted checking account $2,674

2)

To correct the error on Check N. 321

Dr Cash 20

    Cr Accounts payable 20

To record NSF check

Dr Accounts receivable 185

    Cr Cash 185

To record ATM withdrawal

Dr Drawing - Susan Kyri 100

    Cr Cash 100

To record the bank fees

Dr Bank charges 25

    Cr Cash 25

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Basile [38]

Translation or specification gaps emerge when you focus too intently on industry standards or internal capabilities that are not aligned with customers’ real needs is true.

Hard and fast standards inside an industry regarding the usual functioning and sporting out of operations in their respective fields of production. In other words, it is the usually widespread necessities accompanied by the aid of the participants of an enterprise.

Exceptional enterprise requirements approach the standards which fall inside the top quartile inside the relevant enterprise for the supply of similar services which might be notably similar to the services or the relevant part of them, having regard to factors that include the nature and length of the events.

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4 0
1 year ago
Tennies Clinic uses client-visits as its measure of activity. During November, the clinic budgeted for 3,700 client-visits, but
Viefleur [7K]

Answer:

The correct answer is $814 Unfavorable because actual medical supplies is more than standard.

Explanation:

Actual Medical Supplies                                         $26,768

Standard Medical Supplies for Actual Activity            $25,954

(6.60*3,690+1,600)

Medical Supplies Spending Variance                          814 Unfavorable

Therefore, The correct answer is $814 Unfavorable because actual medical supplies is more than standard.

3 0
3 years ago
The Reid Co. acquired a piece of land for a new factory paying $100,000. Reid demolished the old building at a cost of $20,000,
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Answer:

A$118,000 B.$333,000

Explanation

Land$100,000

Demolition20,000

Scrap value(5,000)

Title insurance1,000

Paving assessment2,000

Total land cost($118,000)

B. The cost of the building recorde

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Construction interest8,000

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Total building cost. $333,000

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3 years ago
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Option D

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Indirect questions are a more formal process to demand erudition or perform requests. We regularly practice them when requesting something of immigrants or people we do not know well, including coworkers. Hinting is an indirect tactic.

It often transpires with questions about job execution. They are face-saving tactics.  Indirect questions are a way of being respectful.  We also practice them when requesting support from friends or when we desire to evade sounding demanding. But, some indirect questions do not exist wh-question words.

8 0
3 years ago
If the opportunity cost of manufacturing machinery is lower in the United States than in Britain and the opportunity cost of man
kogti [31]

Answer:

.a. import sweaters from Britain and export machinery to Britain.

Explanation:

A lower opportunity cost of manufacturing a particular goods means that a country uses fewer inputs in production compared to other nations.  The country can produce more quantities of the product using similar factors of production. A lower opportunity cost in manufacturing will make a country's output cheaper compared to when that product is manufactured in other nations.

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